Bank of Canada Sees Gradual Pace of Rate Cuts to Balance Risks
Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts.
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Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts.
Iceland’s inflation eased to the slowest pace in more than two years, suggesting its central bank is more likely to begin reducing the western Europe’s highest interest rate in the coming months.
The UK housing market recovery is threatened by investors scaling back bets on how far the Bank of England will cut interest rates, according to a new report.
US mortgage rates increased to the highest level in five months, pushing down home-purchase applications for the fifth time in the last six weeks.
The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.
Sep 20, 2019
The Canadian Press
TORONTO -- Choice Properties Real Estate Investment Trust has signed a deal to sell 30 properties in mostly smaller communities across Canada for $426 million.
The buyer was not immediately identified.
The portfolio includes 27 stand-alone retail properties and three distribution centres.
They have an average lease term of approximately 12 years with Loblaw Companies Ltd., an affiliated company.
The buyer also has an option to acquire two additional stand-alone retail properties for $29 million.
Choice Properties says the portfolio is being sold for "slightly above" its carrying value and proceeds from the sale will be used to repay debt.
"Along with the recent issuance of equity, this transaction further strengthens our balance sheet by reducing leverage and providing additional capacity to fund our significant development program," chief executive Rael Diamond said in a statement.